Summary
It has been a tough fall from grace for Oladipo, as the former All-NBA guard has dealt with injuries over the past three seasons and hasn't been able to get fully healthy for any real stretch of games. Oladipo essentially had no real offers in 2021 free agency and ended up returning to Miami on a minimum contract

After hitting a career high 37% from three and 67% at the rim in '17-'18, Oladipo's percentages have decreased in those areas, as he shot 32% from three in '20-'21, which was below average, and 33% in '21-'22 over the regular season and playoffs. While he did have a few big scoring games in the playoffs, his shot selection left something to be desired, and his 42.8% eFG% was really poor.

On the defensive end, Oladipo isn't where he was at his peak but can still defend at a solid level. He had some really nice moments in the playoffs as an on-ball defender, including getting quite a few steals using his quick hands to get strips and deflections. 

Oladipo hoped to have a bounce-back year in order to cash in during the summer of 2022 after having a healthy and productive season. However, he only played a total of 23 games, and while he did have some nice playoff moments, he also showed a lot of reason for teams to be skeptical of his ability to affect winning going forward. 
 
Cap Considerations
Oladipo will be an unrestricted free agent with a $1.8 million cap hold and full Bird Rights. Since the Heat will likely be operating over the salary cap, they will retain Oladipo's Bird rights, and have no restrictions on re-signing him.

However, the luxury tax could be a concern, as re-signing Oladipo could push them into the tax or significantly drive up their tax bill depending on what happens with their other free agents.

Therefore, other teams will have a legitimate shot at signing Oladipo away from Miami without having to make him a huge offer. Other teams will have multiple ways to sign Oladipo as even teams without cap space could use the Non-Taxpayer MLE, Taxpayer MLE, or possibly even the Room MLE or Bi-Annual Exception to sign him.